Statutory records

It is essential that you keep your company's statutory records up-to-date. Do not underestimate the importance of these records - they are definitive proof of the company's legal existence and its members, and include:

Register of shareholders

Minutes of directors' and shareholders' meetings

Register of directors and secretary

Register of charges

Register of directors' interests in shares and debentures

Register of share or stock transfers

Register of debenture holders

Copies of directors' service contracts

Confirmation statements and accounts

A company's accounts and confirmation statement must be filed annually with the Registrar of Companies. Non-compliance will render the company liable to dissolution with liabilities subsequent to the dissolution being the responsibility of the directors.

Confirmation statements must be filed with Companies House. This replaces the annual return. For more information, read our news article on the changes.

Penalties

The Companies Act provides for the Registrar of Companies to charge penalties and fines:

£150-£7,500 penalty for late filing of accounts (the amount depends on the status of the company and the degree of lateness)

£7,500 maximum fine for failure to submit accounts

£7,500 maximum fine for failure to file the composite return

£5,000 maximum fine for failure to hold an AGM

£5,000 maximum fine for failure to notify any changes of officer, etc.

How we can help

As part of our service to client companies, we undertake on receipt of written instructions to keep the company's statutory records up-to-date and forward the composite return to the company for approval before submitting them to the Registrar of Companies.

Find out what we can do for you

If you have any questions, or would like to find out how we can help you or your business, give us a call on 01582 540800 and book a free appointment today. Alternatively, you can get in touch with us by filling in our contact form.